Why a $1 Trillion Mountain of Private-Equity Cash Matters

Private-equity firms have amassed a record stockpile of cash, a sign of how much money is available to scoop up cheap investments if a trade war or other unforeseen event upends markets again. Such funds had $1.1 trillion globally in so-called dry powder at mid-year, according to data from Preqin. That hoard has grown sharply […]